Insurance Law 3401 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up ARTICLE 34 Insurance Contracts-property/casualty next SECTION 3402 Executory contract not a change in interest, title or possession Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 3401 Insurable interest in property Insurance (ISC) CHAPTER 28, ARTICLE 34 § 3401. Insurable interest in property. No contract or policy of insurance on property made or issued in this state, or made or issued upon any property in this state, shall be enforceable except for the benefit of some person having an insurable interest in the property insured. In this article, "insurable interest" shall include any lawful and substantial economic interest in the safety or preservation of property from loss, destruction or pecuniary damage.